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ProSight Specialty Insurance

We are Specialists ProSight Specialty Insurance focuses exclusively on markets where we have unique expertise. We are not a generalist and will not put capital at risk in markets where we lack expertise or strong distribution partners. This provides exceptional value for our customers while ensuring long term profitability and a stable market.

How Non-profits Can Manage a Scandal

Author LBrascetta , 5/14/2014

Despite their best intentions, non-profits can become embroiled in scandals that quickly get the attention of the national media and swell to a size that can overwhelm them. These can range from minor issues, such as a staff change, to larger problems such as financial mismanagement. But for organizations that rely on donations and goodwill, even a small problem can have large consequences. That’s why having a solid response strategy is so important.

The best thing to do when negative publicity happens is to act fast and act strategically. The 24/7 news channels – not to mention blogs and social media – have a lot of space to fill, and they are often quick to share their opinions about the topic. Stem the tide of speculation by providing as many concrete facts as possible and emphasize the steps the non-profit is taking to find out the rest of the information.

It is important to note that as long as you are sharing something, you don’t have to share everything. Often times, organizations will make the mistake of giving out information that portrays them negatively just to appease the relentless questions from the press. As long as you lay out the basic facts that are indisputable you don’t have to delve into all the details. Where it does help to get specific is when you address the next steps. Are you going to hire an external investigator? Are you going to terminate the contracts of specific people involved? Make that known as early as possible in the scandal to prevent people from jumping to uninformed conclusions.

After transparency, the next step is to publicly reassure the beneficiaries of the non-profit that their needs won’t be ignored while the situation is being dealt with. That not only helps keep the organization on track with its mission, but also helps remind the people following the scandal that there is more to the organization than its one negative moment in the spotlight. By bringing the focus back to the core goals of the non-profit, leaders can introduce a positive dimension to the conversation and diminish the over-emphasis on the scandal.

For more information on ProSight Specialty Insurance’s products for non-profit organizations, please visit http://www.prosightspecialty.com/solutions/community-first-insurance-for-social-services/



In the Cannes

Author LBrascetta , 5/14/2014

Posted by Scott Nicolaides, Executive Director of Entertainment Bonds at ProSight Specialty Insurance on 13 May 2014 | 0 Comments

This month the city of Cannes, France, is playing host to the world’s most famous film festival for the 67th consecutive year, and ProSight Specialty® Insurance (ProSight) will be on hand to celebrate the world of movies. But we’re not just going as fans: we’ll be there to showcase our COMPLETE® product because a film that we helped get made on time and on budget – the animated feature The Prophet, starring Salma Hayek and Liam Neeson – will be screening at Cannes on Friday, May 17. 

The Prophet, Inspired by the classic book by Kahlil Gibran, is an animated feature film with several "chapters" from animation directors from around the world. The film’s director, Roger Allers (The Lion King (1994) and Open Season (2006), was responsible for the framing story that brought all the chapters together. As a result, this was a truly global production, which can often lead to long delays as the producers wait for bonds and coverages to come through in every country. Our COMPLETE® product combines the completion bond and insurance phases into one stage, dramatically reducing the time it takes production companies to get the coverage they need to make a successful film. And our global expertise allowed The Prophet to get into production quickly and be completed on time.

According to Hayek, "ProSight worked closely with us to find creative solutions to our production challenges." Producer Clark Peterson added, "They have been amazing partners throughout our production."

ProSight is rapidly becoming an insurer of choice for the film and television industries, which is why we dedicate significant resources to attending the world's top festivals. Plus, we’re the only company in the world to offer film insurance and completion bond in one seamless product, all under one roof. 

To learn more about our film insurance products and COMPLETE®, or to meet up with us in Cannes, please contact me at snicolaides@prosightspecialty.com.


Entertaining Safety Helps Right the Ship When Things Go Wrong

Author LBrascetta , 5/14/2014

Posted by Kevin Topper, VP, Entertainment Programs on 11 March 2014 | 0 Comments

After previewing sections 1 and 2 of Entertaining Safety: The Entertainment Technology Professional’s Guide to Insurance and Risk Management, it is time to provide a snapshot of the third and final section of this brand-new entertainment technology–specific reference guide, “What to Do When Bad Things Happen to Good Entertainment Professionals.”

What steps can you take in advance to help you through a crisis long before one arises? The opening subsection “Being Prepared: What Must Be in Place, Just in Case” informs readers how to update the equipment, assets, and inventory listed under your insurance policies; details how earning Entertainment Technician Certification Program (ETCP) credentials can help reduce risk and lower liability; stresses the need for a comprehensive emergency handbook; and spells out the importance of a clear chain of command that is understood by every worker.

The meat of the section covers the steps for dealing with the situation as it develops:

  •  Call 9-1-1 in the event of an emergency
  • Call other authorities and service providers as necessary (police, restoration companies, etc.)
  • Call your agent to begin the claims process
  • To the extent possible, keep the scene as close to the condition it was in at the time of the incident
  • Be responsive and truthful throughout the process  

It also examines why it is imperative to heed the following instructions:

  • Do not throw away materials that are part of the scene
  • Do not make admissions or provide written statements before a claims person arrives
  • Do not leave town without notifying a claims person and supplying contact information

 This second bullet is particularly important. As Entertaining Safety explains:

“You should not get into subjective details until you have consulted with the claims person after the incident has occurred. Statements such as ‘We’ve been meaning to fix that’ or ‘That’s the third person to slip today’ can have negative ramifications as the claims process unfolds.”

Section 3 continues with an overview of the necessary documentation for an accident, including a breakdown of the pertinent information a witness needs to collect. Before closing with an overview of the insurance claims process itself, the handbook discusses how a good carrier can get you back on your feet.

“Specialty insurers in the entertainment space also have a wide network of venues and vendors that can provide new parts and services for assets that need replacing, and ensure that everything meets the strictest codes and highest standards. Underwriters who are truly experienced in the live event business should be able to point you in the direction of loss control specialists, engineers, and lawyers who can provide professional advice as to how to handle the task at hand and reduce your potential exposure to loss in the future should something go wrong.”

Make sure you have under your thumb all the knowledge you need to set up insurance policies, promote safety in the entertainment workplace, and manage a disaster should one occur. DownloadEntertaining Safety today!

For more information on ProSight Specialty Insurance’s products, please visit http://www.prosightspecialty.com/solutions/live-events/